Portuguese finance minister Mario Centeno (l) wearing a scarf after his country's win in the Euro football championship and Spain's Luis de Guindos. Both men oppose sanctions for excessive deficit. (Photo: Council of the EU)

EU to reprimand Spain and Portugal on budgets

Green Economy

by Eric Maurice, Brussels,

EU finance ministers will on Tuesday (12 July) officially say that Spain and Portugal violated EU budget rules by not doing enough to reduce their deficits.

The decision was announced after a meeting of eurozone finance ministers on Monday. It will be formally taken at a meeting of all EU finance ministers on Tuesday.

"Eurozone members will vote to support the European Commission's recommendations unanimously," Eurogroup president Jeroen Dijsselblomen said at a press conference.<...